Rental income in huf
Querist : Anonymous
Please help me i have property in the name of HUF and the rent income from this property is around 70Lakh and against expenses is Rs. 50Lakh.
My Question is
1)HUF Liable for Tax Audit ?
2)HUF Liable for Service Tax registration ?
Thanks in advance ...
Querist : Anonymous
Thane what will be the treat under income tax.
Tax Audit applicable to HUF? ❌ No (if income under House Property)
Service Tax registration required? ✔️ Yes (since rent > ₹10L, commercial)
Can ₹50L expenses be claimed? ❌ No (only 30% standard deduction allowed)
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